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Bankruptcy Reform Archives

What does the president's budget proposal have to say about bankruptcy?

It perhaps wouldn't come as too much of a surprise to learn that bankruptcy reform has not exactly emerged as a hot-button issue on Capitol Hill over the last few months. Indeed, both Congress and the Trump Administration have been more than occupied by debates concerning everything from immigration and health care to the longstanding Supreme Court vacancy.

Is bankruptcy becoming more of an option for those dealing with student loans?

As we've discussed on our blog, those people looking to eliminate their private student loan debt in bankruptcy face a very real challenge. That's because the U.S. Bankruptcy Code dictates that no discharge can be granted for a loan made for an "educational benefit" absent a showing of undue hardship.

Should an undue hardship be considered 'unjust' or 'excessive?'

Thanks to the skyrocketing costs of both college and graduate school, the monthly ritual of submitting a student loan payment has become increasingly exasperating for some, fiscally painful for others and a near impossibility for far too many.

Is the way bankruptcy courts treat student loan debt going to change? - II

In our last post, we began discussing how people of all ages here in the U.S. are having difficulties with student loan debt. Indeed, statistics from the Consumer Financial Protection Bureau reveal that as many as one out of every four borrowers are either having trouble making their monthly payments or are in default.

Is the way bankruptcy courts treat student loan debt going to change?

Every month people of all ages across the country either log onto the Internet or get out their checkbooks to make yet another sizable student loan payment. While this exercise is merely groan inducing for some, it is actually painful for others, particularly those who are struggling to make ends meet.

Can trustees pull tuition payments back into a bankruptcy estate?

When you file of bankruptcy, the court will appoint a bankruptcy trustee. The bankruptcy trustee administers the case from reviewing all of you financial paperwork to liquidating property. The trustee is obligated to try to satisfy as many creditor claims as possible either in part or in whole.

Could material reforms be on the way in the student loan industry?

If you're like high numbers of other student loan debtors in Florida and elsewhere across the country, you're managing to timely pay off your student loan, even if it stands as a notable obstacle with a payment duration spanning a decade or more.

With debt-relief guidance, client empathy, respect essential

When you sit down with a bankruptcy attorney to discuss spiraling debt and the urgent need you have for meaningful debt relief, you obviously have a lot of weighty concerns on your mind and likely feel more than just a bit stressed and vulnerable.

Senators propose student debt bankruptcy reform legislation

Calling it a "chance to right a wrong," three U.S. senators proposed new legislation last week aimed at reversing a prior legal change that makes it all but impossible for student debtors to rid themselves of private loan obligations in bankruptcy.

Afraid of Bankruptcy's Impact? It Might Actually Improve Your Situation

When the bankruptcy rules changed back in 2005, many people believed that it would make it extremely difficult, if not impossible, to file for bankruptcy protection. Those with debt problems felt that they no longer could consider bankruptcy as a possible option. Now, the biggest worry that many individuals will have is that filing for bankruptcy may be impossible to overcome.

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